The takeover makes Petrol third biggest distributor of natural gas in

Serbia, the company said, adding that the move was in line with Petrol's

plans within the company's strategy for the 2012-2016 period.

Apart

from the new acquisition, Petrol owns another Serbian gas company, Rodgas,

and it has received a concession for building a natural gas network in the

Pećinci municipality.

Beogas and Domingas, the two companies within

Beogas Invest, distribute natural gas through more than 220 km of pipelines

to 10,000 customers who use some 15 million cubic metres of natural gas per

year.

$Petrol made an important step towards fulfilling its

strategic direction by taking over the 85% stake in Beogas Invest,$

Petrol chairman Tomaž Berločnik said, adding that his company was

strengthening its position in the region.

Petrol moreover has the

option to buy the remaining 15%, Rok Vodnik, a member of Petrol's

management board, said, adding that contracts had been made for $the

acquisition of up to 100% of Beogas$.